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bond denominated in the strongest currency in the world, the euro, paying 5.5%? i'll take spain over the united states at this point any day. >> all right. >> so don't agree at all. do not agree at all. look, retail sales in spain are down 9.7% year-over-year. they're seeing the biggest bank run in spain the globe has seen since the great depression. youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not
] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at some point the suppliers will probably want to charge netflix more or they might even stop selling to netflix. that's been a huge problem for them when it comes to contend more broadly. >> time for the global markets report. kelly evans standing by in london. you rise above over
, which the germans said they should do, they should have done three years ago they'd be better off. spain is the immediate problem, you have 26% unemployment which is non-performing loans. >> we have to go, 2,200 pages of health care, i'm sure the notes spain's taken how greece has got money at every turn, their pile is a bigger pile than the health care plan. >> i could listen to you guys talk all day long. that was a great conversation. yra, rick, thanks so much. see you in a bit. >>> zynga stock popping. julia boorstin is live in l.a. with more. >> good morning to you, carl. this is the first of many steps before zynga can make money from online gambling. applying for a real money gaming license in nevada is a sign of zynga's seriousness creating new revenue streams. it sent it up as much as 9% higher today. the company warns it will take as much as a year and a half to get approval in nevada but the biggest step of all is a change in federal law, and if online gambling does become legal nationwide, zynga is sure to face some big competition from the casinos. zynga is struggling to sel
rules. spain has reformed the stupid work rules that they no longer have to pay 42 months severance pay now it is just 24 months. that is still two years. >> if they turn out badly you will turn up and know them they show them two years. >> having 350,000 under severance pay but now just 200,000. why hire somebody to pay that much to fire them? >> a very good question. to be sure that they want them. it is the decision not allot of employers are willing to make. john: i assume people cheat? >> lot of people cheat. they are expected and that is what keeps the inspector in business. it is easier and cheaper to bribe the inspector then goes to the motion to pay the taxes and declare an come and workers. john: singapore has a booming economy. no minimum-wage comment no laws against discrimination. if you fire, four weeks termination notice and unemployment is at 2%. >> you can start of business, flexible, hire and fire and it makes it attractive. john: thank you anne jolis and thank god we don't have those dumb laws. we have plenty. weird getting more and people want more like a guaranteed
in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good morning. >> yeah, that's right, carl. we saw the offer come in late last night and now we'r
so far. europe is moving things. not the united states. spain also by the way we didn't talk about this they officially asked for european funds to recapitalize their banking sectors. that's also a bit of good news. i want to talk about china because i got a lot of calls and questions about my comments last week on china. have you noticed we got good news on the manufacturing overnight on china. better than expected. november better than expected. the pmi numbers. guess the whole world went up. korea went up. everything went up except china. a lot of comments last week about what exactly is happening in china because china -- mainland china stock market is among of the worst performers for the whole year. we're down 11% in shanghai this year. hong kong is up 18%. how do you explain this? this was a huge debate in the last couple of weeks and of course a lot of people are@@ pointing to the fact that there's less stimulus than expected coming from the government. they haven't said anything but that's not the problem. this has been going on now for months and months on end. selling sh
than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on saturday night, i said, we're going to have a nice opening. china's good, people know that monti is not really going to hurt italy. i think if china continues the momentum, but the number -- >> the ex sports were less than expected in the month of november. which is a concern. then there's this perverse glass
seems to be fixed. it's fixed. even though they're in a bit of a recession, a lost generation in spain, are they really fixed? we'll ask mark grant the tough questions bottom of the hour. , we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> facebook experiencing its fourth lockup today. today 160 million shares hitting the market. our next guest is an author of the book "the facebook era" clara shih the president of a company that has enterprises with large store networks on facebook linked in and other social networks. welcome back and good to see you again. >> good to see you. thanks for having me. >> i wonder what your take is short term on the lockup expiration. we've had it both ways this year. where
we go, ah. but it is amazing. nothing we can do. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy
in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> this is a live television feed from inside the white house. we are told the president will address the country shortly on the fiscal cliff. as we await what will be presumably a market address, let's start shuffling through where we are in a moment. we kick off with mary thompson on the floor of the new york stock exchange. mary? >> john harwood has been reporting throughout the morning and gifting lift throughout the day, the dow off 54 points and we are seeing gains in material stocks and also tech stocks getting a nice bid into today's session. you can see the gyrations in the broader market reflecting different
the board as investors did show up. if we flip over to spain in particular, we can take a look at the three-year over here. a bid to cover ratio of 4.8%. one indication certainly of the kind of indications there are where the ecb is expected to be the most active if and when these countries have to access their bailout programs. now we're seeing prices in spain sell off a little bit. the ten-year, just under 5.4% is the level there. for the longer dated papers, investors are a little bit more wary. now, that news coming out of the euro group meeting, i wanted to show you the euro/dollar as we wrap up today's global market support. it's still down .1%, 1.3056. that would tell you that the resolution is largely priced in. now as focus moves into the start of next year, a couple of the key questions will be how much mario draghi follows ben bernan bernanke's caps, maybe even cutting into positive territory. expect to hear plenty more about that in the weeks to come. but for now, some resolution means this is front and center for these fiscal cliffs. back over to you guys. >> kelly, have your b
and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace
in the likes of portugal, ireland, some even to some degree in spain and greece. and that wouldn't have happened without the pressure in the markets. >> obviously. jim, we want to thank you very much for calling in on this new year's eve and wish you a happy 2013 to you, as well. >> happy new year's to you guys. good luck to you. >> things. >>> coming up, we're going to calm to some politicians and congress people. we have shelly moore-capito and congressman greg meeks of new york will join us on the show to talk about the biggest sticking points. at the top of the hour, vice chairman and republican policy committee chairman tom price will be our special guest. "squawk box" coming right back. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. impact wool exports from new zealand, textile production in spain, and the use of medical
. take 15% youth unemployment in spain and compound that with the fact they stop having babies. what happens in a generation or two. >> i tell you, bill, you got me thinking, i encourage readers to read this. in some of the biggest developed economies pushed the most growth are below a 2% utility rate. this has to be dealt with at some point. back to you. >> thanks, rick. >>> road trip and big bank is in highways an byways in the road for yield. we'll explain how. and actually. the lexus december to remember sales event is on. this is the pursuit of perfection. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com
the lines of what spain did or ireland or greece, cut back our social programs dramatically. we'll have to do what the rest of europe will do over time, which is accept a lower standard of living forever everybody which is why the longer-term plan is so vital, not the short-term craziness. because everybody knows he we can't keep providing americans with the current level of services unless we raise taxes in a big way on erin and cut spending somehow. even the democrats are unwilling to consider that kind of tax cut. that's why long-term spending cuts are so important. they figure into the job creation of the next 25 to 30 years, and the ability of people to stay out of poverty longer term. in the meantime, you can't get the growth needed for government receipts to go higher even in the near term. put simply, if you got someone from honeywell or eaton or celgene in the rule, explain the impact. the imperative would be to get this fiscal cliff done before vacation. hey, listen, yes, no vacation without legislation. because the longer the delay the fewer reasons to start a business and th
that was in terrible shape to begin with and i think you have a lot of austerity fatigue going on spain, italy, portugal, certainly greece. so you have those economic woes. the euro is not going to thrive and it may survive thanks to the ecb, but you're not going to get that economy to thrive, and the fiscal union ask those are very slow going and though they may be moving quickly by european standards and i've been given the magnitude of the problem going very slowly. >> how should people be thinking about this? the average american, and they've been hearing about it for so long and they're not sure it will affect their pocketbook. do you think they will? >> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks so much
naonal. go like a pro. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ neil: finally, why should only fox news viewers have all the fun? talking about christmas shopping tips, annual staple andda much appreciated public-service everywhere, but fox business friends are even more demanding. you don't want ideas, suggestions. yoneed a hit, numbers. safe and reliable, improving markers. here for you, mike finnicky financial friends to my your own business shopping tips for everyone. all you have to remember, you have to remembe are these five numbers, three, one, zero, two, seven. again, three, one, two, zero, two, seven. listen closely and allow me to explai. the number of shoppi
it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months of time on the markets. if pmis do not improve, will we see growth? what would you say to that view? >> i mean, i'm pretty simple on this. i do not believe and we could debate this probably all day that quantitative easing itself has helped the economy at all. banks put that money right back to the fed as excess reserves. it hasn't boosted money in the economy. i don't believe that we've seen a false rally or sugar high. i think the growth in the economy and growth in the markets has been driven by productivity and profits. i think it's real. it's slow. it's real. we're going to have a weak fourth quarter. i believe most of that weakness is because of sandy. we're going to pick up later in the quarter. we'll have 2.5% to 3% growth n
else is going on, and the children of the rich are shipped out. even the rich in spain, the children all of them are saying to their kids study and live abroad. their foundation for the future is eroding. stuart: that number, 145 million euros, that's that's about 180 million bucks, he's paid that in his lifetime and the french government says that's not enough, we want more. >>. charles: according to hollande, it's not his fair share. >> and why, if the government is going to take three quarters of it. stuart: a patriotic duty to pay your fair share. you know i don't mean that-- >> and how our spending has gone up and plus the latest and most important read on the housing numbers. breaking numbers for you at the top of this hour. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your
with the omp with spain but they gave you a second put which you guys didn't talk about which is amazing. >> what's the second piece of it then? >> the second piece was when they were just this last meeting and you had this vote, how did the vote go? you know how the vote went for lower interest rates? you guys know how -- can somebody put on their prompter so they can figure out what it is? how did the vote go for lower interest rates? i'll tell you how the vote went. lower interest rates. they didn't lower interest rates this time. what they said, though, if you go back and look at it, every member before voted for lower interest rates. majority for lower interest rates. who didn't vote for lower interest rates? it was azulman, if my pronunciation is wrong, there's no way i'm going to get it right. pittsburgh people, what are you going to do. and this other guy draghi. and there was a fourth guy, begins with a "c." basically you're in this situation, whenever draghi wants to lower interest rates in europe, he can do it. >> but we haven't understood why they haven't done it to this poin
's going to be a lot of protests in spain, for example, today. foreign exchange, if we look at the dollar/yen, we look how quantitative easing is going to be a much more enhanced program in japan after the elections. you can clearly see how the dollar has performed quite admirably against that weakening of the currency issue on quantitative easing. remember, for an export economy, this is not something they're so upset about. last, but not least, even our weakened partner in europe, we just discussed, look how the euro versus the dollar is at some of the best levels we've seen since early may. something to pay attention to. we also had empire index on the weak side. and minus 56 billion on october treasury, international capital flows. that's the weakest level since the summer of 2011. now we're going to go to david faber who's talking about a sprint clear wire deal. how clear is it, david? >> we did get the deal itself, rick santelli. thank you very much. after a couple of months of which we've been talking about this. if you recall, back on october 10th, we got the deal this morning in
from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. plays a key role throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns as we age. it has 7 antioxidants to support cell health. one a day 50+. >>> chase kowalski completed his first little kid's mini triathlon. he was a cub scout who played baseball, enjoyed the kids workshop at the home depot as well, 7 years old. injo injoining us now, dr. drew pinske. thanks so much. how important is it first of all for these other kids, nearly 600 of them, to get back into a regular school routine? >> it's very important, wolf, that these parents tell their kids that they're going to be safe and they need to
, prefunding for 2013. got nearly the 4.5 billion they wanted. yields in spain. the ten-year did come lower on that auction, so not a bad result. and bid to cover was okay. so spanish yields slightly higher after that. didn't raise the maximum amount. that's where we stand. it's another cautious day under way in europe. back to you guys. >> might get my haircut like hers, ross. you know, that anna wintour. that bizarre -- do you think you can manage it? >> a page boy. >> you think you carry that one? >> you'd look awful. >> you know what? we're going to do it. >> you're asking these guys to put me -- >> you'd look good in that one from "dumb & dumber." >> yeah. i make that sound. the most annoying -- you want me to do that? >> no, we don't. >> morgan stanley is trying to bolster lending. some advisers are said to have left the firm due to a lack of lending capacity. you didn't bargain for this, did you? we're asking you about your company. is that okay? >> absolutely. >> greg funding -- we already know he joins us. you did provide investors with an update. >> yes. >> ross, you want to get i
go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so
that reflected across the bond space. portugal for example seeing ten-year yields falling. same for spain and italy. the boreses and footy 100, the xetra dax, this has been the outperformer up in the range of 30%. another .3% after the ifo out of germany. came in better than expected. again, a good sign for growth. not necessarily, though, for those who would like to see a weaker europe. the ibex 35 adding 1.3%. and the nikkei, as you mentioned, up above 10,000 for the first time in eight months. adding 2.4%. better hope the moves in the japanese government or bank of japan pan out. we'll get the bank of japan's decision tomorrow. but this comes on the day when, remember, it's on the weakening of the yen which we can show you on hopes that that will help the japanese corporate sector. remember, we saw export figures showing a drop of 20% in exports to the use. 15% to china. again, there's a lot of expectation built to this. the aussie/dollar remains the underperformer as we continue to evaluate china's internal rebalancing. now the sterling is stronger, the dollar/yen you already mentione
for the christmas eve holidays. london, paris, spain have each completed shortened sessions in light of the christmas holiday as well. the friday sell-off, only five trading days are left in the year. is the market getting used to the idea that a fiscal cliff solution will not happen before year end? >> only a few hours remain to finish your christmas shopping. but some words of caution for toymakers. are tablets and apps ruining the season as kids get more accustomed to technology? >> microsoft windows 8 gets more bad press today, as "the new york times" said it is not leading to a boost in pc sales. is there anything that can turn that lagging sector around? futures moving lower, as concerns about the fiscal cliff talks weigh on the market. talks about progress toward a deal sent the down lower by almost 521 points on friday. s&p up almost 14% on the year. it's interesting, this year we've had so many unnatural phenomenon taking place, whether it's the effects of the fed's monetary policy, year end, fiscal cliff tax related issues. the motivations are a little bit different this ti
undercarriage. but spain and the undercarriage is not something any of us need. but i think that howard dean, we didn't have time to go back and get howard and stuff. but howard said the best deal the democrats are going to get is to go over the fiscal cliff. taxes go up, then you go the republicans in position where they're getting the lower taxes. then patti murray. >> i just hope that people are paying attention that what we are seeing is basically the best world for politicians, they put off the and then everybody is going to pretend, oh, it's something happened. and nobody in the meantime is representing the interest of the american people. you know, we've got both parties in a position to negotiate this is what we want, this is what we elected and they're doing everything they can to not pay attention to that and to go to their separate corners and to be separate and to pretend that their way is not the only way. >> and it could result in people being called into, like, their supervisor's offices and their supervisor goes, i'm sorry, people are actually losing jobs because of this. >> but
-- in many senses you could call it profit taking -- not in the case of spain where you see a major underperformance. >> let me say the german finance minister suggested he thought the worst of the eurozone crisis is now past. he said the government in athens knows it cannot financially over burden the rest of the eurozone countries and is acting as it should. he was optimistic on france as well despite the fact the data is indicating we'll still get a contraction in the third quarter, for most of the eurozone. germany's economic position is arguably deteriorating but still schauble there is relatively optimistic that the crisis is over. in the meantime what is also happening is this money is beginning to flow into, from the public safety net to support the banks so you have the recapitalization of the banks but that isn't of course good news for everybody in the case of the ipo from last year you have 53,000 small shareholders there effectively having their positions in the debt smashed against the whole. they've been selling out again today to try and retrieve what they can becaus
Search Results 0 to 30 of about 31 (some duplicates have been removed)